For the year ending 2025-12-31, VTR had -$173,935K decrease in cash & cash equivalents over the period.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income (loss) | 261,518 | 88,351 | -30,297 | -40,931 |
| Depreciation and amortization | 1,379,140 | 1,253,143 | 1,392,461 | 1,197,798 |
| Amortization of deferred revenue and lease intangibles, net | -39,250 | -54,242 | -59,604 | -63,543 |
| Other non-cash amortization | 32,328 | 30,143 | 22,416 | 12,957 |
| (reversal of) allowance on loans receivable and investments, net | 0 | -166 | -20,270 | 19,757 |
| Stock-based compensation | 38,733 | 30,991 | 30,987 | 30,715 |
| Straight-lining of rental income | 48,852 | 5,094 | 7,597 | 11,094 |
| Loss (gain) on extinguishment of debt, net | -172 | -687 | 6,104 | -581 |
| Gain on real estate dispositions | 38,579 | 57,009 | 62,119 | 7,780 |
| Gain on real estate loan investments | - | - | 0 | 0 |
| Income tax benefit | -24,150 | -43,487 | -15,269 | -21,348 |
| Income from unconsolidated entities | 4,468 | 1,563 | 13,626 | 28,500 |
| Gain on foreclosure of real estate | 0 | 0 | 29,127 | - |
| Distributions from unconsolidated entities | 29,041 | 18,298 | 16,123 | 19,847 |
| Other | -11,663 | -25,762 | 44,503 | -52,489 |
| Increase in other assets | 30,683 | 117,363 | 48,445 | 52,897 |
| (decrease) increase in accrued interest payable | -922 | 27,205 | 1,252 | 4,915 |
| Increase (decrease) in accounts payable and other liabilities | 81,035 | 133,969 | -6,405 | 7,197 |
| Net cash provided by operating activities | 1,646,726 | 1,329,625 | 1,119,873 | 1,120,163 |
| Net investment in real estate property | 2,293,769 | 1,925,957 | 6,466 | 446,628 |
| Investment in loans receivable | 935 | 125,363 | 2,750 | 30,700 |
| Proceeds from real estate disposals | 213,161 | 329,094 | 399,534 | 112,926 |
| Proceeds from loans receivable | 48,815 | 6,870 | 44,630 | 890 |
| Proceeds from sale of interest in unconsolidated entities | 0 | 0 | 50,054 | - |
| Net cash assumed in foreclosure of real estate | 0 | 0 | 11,615 | - |
| Development project expenditures | 280,752 | 322,232 | 383,590 | 231,939 |
| Distributions from unconsolidated entities | 33,700 | 8,368 | 74,670 | 28,311 |
| Investment in unconsolidated entities | 55,785 | 69,797 | 130,522 | 83,652 |
| Insurance proceeds for property damage claims | 5,010 | 3,542 | 17,576 | 13,704 |
| Net cash used in investing activities | -2,694,418 | -2,377,089 | -184,664 | -859,218 |
| Net change in borrowings under revolving credit facilities | -6,768 | -7,103 | -12,410 | -27,179 |
| Net change in borrowings under commercial paper program | 0 | 0 | -402,354 | 122,414 |
| Proceeds from debt | 1,130,497 | 1,913,431 | 2,527,482 | 957,781 |
| Repayment of debt | 1,779,761 | 1,621,316 | 1,973,132 | 575,391 |
| Purchase of noncontrolling interests | 2,057 | 11,064 | 110 | 170 |
| Payment of deferred financing costs | 14,488 | 35,878 | 41,837 | 8,824 |
| Issuance of common stock, net | 2,343,687 | 1,964,867 | 108,455 | 0 |
| Cash distribution to common stockholders | 860,060 | 740,326 | 723,559 | 720,319 |
| Cash distribution to redeemable op unitholders | 6,320 | 6,468 | 6,191 | 6,292 |
| Cash issued for redemption of op units | 2,298 | 2,416 | 1,132 | 1,487 |
| Contributions from noncontrolling interests | 80 | 3,703 | 20,241 | 5,371 |
| Distributions to noncontrolling interests | 16,404 | 22,300 | 32,029 | 32,325 |
| Proceeds from stock option exercises | 110,863 | 26,052 | 1,736 | 8,691 |
| Other | -23,214 | -15,962 | -8,909 | -6,198 |
| Net cash provided by (used in) financing activities | 873,757 | 1,445,220 | -543,749 | -283,928 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | -173,935 | 397,756 | 391,460 | -22,983 |
| Effect of exchange rate changes on cash | 2,839 | -3,985 | 1,257 | -2,869 |
| Cash and cash equivalents at beginning of period | 957,233 | 563,462 | 170,745 | 196,597 |
| Cash and cash equivalents at end of period | 786,137 | 957,233 | 563,462 | 170,745 |
Ventas, Inc. (VTR)
Ventas, Inc. (VTR)